economics - updates

Rappler's latest stories on economics

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Trio win 2019 Nobel Economics Prize for work on poverty

Oct 14, 2019 - 6:01 PM

Abhijit Banerjee, Esther Duflo, and Michael Kremer are honored 'for their experimental approach to alleviating global poverty'

NOBEL WINNERS. Indian-born Abhijit Banerjee of the US, French-American Esther Duflo and Michael Kremer of the US win the Nobel Economics Prize for their 'experimental approach to alleviating global poverty,' the Royal Swedish Academy of Sciences says. Photo by Jonathan Nackstrand/AFP

Nobel season wraps up with Economics Prize

Oct 14, 2019 - 1:07 PM

The name of the winner or winners will be revealed at 11:45 am (0945 GMT; 5:45 pm Manila time)

Philippines to miss 2019 economic growth target – World Bank

Oct 10, 2019 - 10:05 PM

Global trade tensions and domestic politics spoil the Philippines' dream to be among Asia's economic juggernauts

In a twist, PEZA now supports Citira bill

Oct 09, 2019 - 5:10 PM

The Philippine Economic Zone Authority Board changes its tune after a 'cordial' meeting and now backs the bill seeking to rationalize tax perks

PH health care, infra, institutions among worst in the world – WEF

Oct 09, 2019 - 2:00 PM

The Philippines is down 8 spots in the World Economic Forum's 2019 Global Competitiveness Report

Gordon on slow APECO dev't: 'I want it done'

Oct 02, 2019 - 5:33 PM

Indigenous peoples whose ancestral lands would be affected by APECO are ignored in the budget hearing for 2020

Mr. Israel Maducdoc, president & CEO Asia Pacific Economic Zone and Freeport Authority (APECO) at the senate hearing on the proposed 2020 budget of SBMA and APECO. October 2, 2019. Photo by Angie de Silva/Rappler

ADB sees Philippines still hitting 2019 economic growth target

Sep 25, 2019 - 1:50 PM

The Asian Development Bank cuts its growth outlook for the Philippines to 6% in 2019, just clinging on to the lower end of the government's target band

[OPINION] Navigating the new globalization

Sep 19, 2019 - 5:30 PM

It is only through cultivating a high-trust society that this whole-of-society approach to development could work

West African leaders agree billion-dollar anti-jihadist plan

Sep 15, 2019 - 10:07 AM

The fund would help reinforce the military operations of the West African countries in their fight against jihadist attacks in the region

ECOWAS. (From L-R) Presidents Ibrahim Boubacar Keita of Mali, Alassane Ouattara of Ivory Coast, Idriss Deby of Chad, Mahamadou Issoufou of Niger, Roch Marc Christian Kabore of Burkina Faso, Faure Gnassigbe of Togo, Macky Sall of Senegal, and Muhammadu Buhari of Nigeria pose after the opening ceremony of ECOWAS G5 security summit in Ouagadougou on September 14, 2019. Photo by Issouf Sanogo/AFP

PEZA chief Plaza doesn't think she's getting fired by Duterte

Sep 11, 2019 - 1:46 PM

'I don't feel I am the one being alluded to....I am facing all this risk because I want to protect the interest of the Filipino people,' says PEZA Director General Charito Plaza

Duterte to fire economic official for incompetence

Sep 11, 2019 - 8:45 AM

Without giving a name, President Rodrigo Duterte says a female official is getting the axe for not matching the performance of others in the economic team

President Rodrigo Roa Duterte delivers his speech during the 2019 Outstanding Government Workers Awards Rites at the Malacañan Palace on September 10, 2019. SIMEON CELI JR./PRESIDENTIAL PHOTO

IN CHARTS: Despite slower growth, employment improves in July 2019

Sep 05, 2019 - 4:40 PM

Underemployment falls and more young Filipinos enter the workforce in July 2019

NEDA not keen on setting floor price for palay

Sep 03, 2019 - 3:00 PM

Socioeconomic Planning Assistant Secretary Mercedita Sombilla says limiting how low palay prices can go would go against the purpose of the rice tariffication law

PEZA urges Congress not to 'tinker' with tax perks for investors

Sep 02, 2019 - 5:50 PM

PEZA Director General Charito Plaza says the current incentives are already 'globally competitive' and could help the Philippines attract investors as companies avoid the US-China trade war

Inadequate StatDev results highlighted in De Lima lecture series

Aug 27, 2019 - 8:43 PM

Advocacy organization Every Woman launches a lecture series to promote 'enlightenment' amidst Senator Leila de Lima's detainment

"FREE LEILA NOW." Every Woman reads its statement in the inaugural Leila de Lima Annual Lecture Series. A chair with De Lima's shawl is left empty. Photo by Michelle Abad/Rappler

Pernia to Congress: Pass 2020 budget on time to ensure economic growth

Aug 22, 2019 - 12:40 PM

Socioeconomic Planning Secretary Ernesto Pernia also asks lawmakers to consider extending the validity of the 2019 budget

FOR ECONOMIC GROWTH. Socioeconomic Secretary Ernesto Pernia urges Congress to pass the 2020 budget on time. File photo by Darren Langit/Rappler

Carpio corrects Cayetano: Malaysia, Vietnam don't have claims in PH EEZ

Aug 20, 2019 - 6:40 PM

'In fact, China is the only country that claims Philippine EEZ in the West Philippine Sea,' says Supreme Court Senior Associate Justice Antonio Carpio

WEST PHILIPPINE SEA. Supreme Court Senior Associate Justice Antonio Carpio points out Malaysia and Vietnam do not claim any part of the Philippines' exclusive economic zone in the West Philippine Sea. Photo by Angie de Silva/Rappler

Philippines files diplomatic protest vs China over warships in EEZ

Aug 19, 2019 - 9:31 AM

'Drop the diplomatic crap; say it is ours period; they're trespassing,' says Foreign Secretary Teodoro Locsin Jr

NO PERMISSION. The Armed Forces of the Philippines Western Mindanao Command reported 5 Chinese warships passed Philippine waters in July and August 2019. Photo from AFP-Westmincom

Locsin eyes ‘universal ban’ on foreign marine surveys in PH waters

Aug 12, 2019 - 8:56 PM

'Exceptions invite bribe$,' Foreign Secretary Teodoro Locsin Jr says in a tweet as he announces a 'universal ban' on marine scientific surveys

NOT ALLOWED. Foreign Affairs Secretary Teodoro Locsin Jr. says he is eyeing a ban on foreign vessels conducting marine research in Philippine waters. Photo by Angie de Silva

Pernia lists steps to improve disappointing Philippine GDP growth

Aug 08, 2019 - 8:30 PM

The dismal state of agriculture, trade wars, and domestic politics are just some of the problems the government's economic team is facing

Philippine GDP growth still below target at 5.5% in Q2 2019

Aug 08, 2019 - 10:02 AM

(UPDATED) The Philippine government's economic team must play catch up, as growth slows down again in the 2nd quarter of 2019 – the lowest in 17 quarters

Myanmar 'categorically rejects' U.N. report on army business empire

Aug 07, 2019 - 10:48 AM

The United Nations fact-finding mission urges the international community to sever all ties with companies linked to the Myanmar armed forces and to implement a complete arms embargo

(FILES) In this file photo taken on September 15, 2016, signage for the Myanmar Economic Corporation (MEC) - one of the country's main military conglomerate under US sanctions - is seen on a sidewalk along Yangon's main road. Tougher sanctions are needed against Myanmar's wealthy and powerful military, UN investigators said August 5, 2019, as they revealed how the army's web of economic interests has generated a fortune that helps fund atrocities. Ye Aung THU / AFP

Piñol to economic team: Get out of air-conditioned offices, see reality

Aug 06, 2019 - 5:50 PM

Former agriculture secretary Emmanuel Piñol has some biting words for the government's economic managers

Myanmar army's 'business empire' fuels atrocities – U.N. probe

Aug 05, 2019 - 3:38 PM

(UPDATED) UN investigators urge the international community to cut ties with the Myanmar armed forces' economic holdings

Philippines-Indonesia maritime boundary treaty now in force

Aug 02, 2019 - 2:24 PM

The agreement enters into force 25 years after the Philippines and Indonesia first discussed it in June 1994

IN FORCE. Philippine Foreign Secretary Teodoro Locsin Jr (left) and Indonesian Foreign Minister Retno Marsudi (right) signed the 'Protocols of Exchange' of the instruments of ratification concerning the boundary agreement between the two countries. Photo by Anthony Cornista/DFA

‘Honor before excellence’: Students condemn cheating in U.P.

Aug 01, 2019 - 10:18 AM

(UPDATED) 'Academic dishonesty has no place in a university that prides itself in promoting honor and excellence,' says the University of the Philippines School of Economics Student Council

U.S. economic growth slows in Q2 2019, 2018 falls below Trump target

Jul 28, 2019 - 10:05 PM

The growth between the 4th quarter of 2018 and the 4th quarter of 2017 is revised to 2.5% from 3%. United States President Donald Trump had repeatedly hailed the 3%.

Photo from Shutterstock

BUILD BUILD BUILD

Jul 27, 2019 - 12:00 PM

Rappler maps the 75 big-ticket infrastructure projects under the Build, Build, Build program

Villanueva asks NEDA if it's setting up endo bill for Duterte's veto

Jul 24, 2019 - 7:44 PM

Socioeconomic Planning Secretary Ernesto Pernia says the Security of Tenure bill, which is now up for the President's signature, still needs some tweaking to benefit both workers and employers

PH more likely to be upper-middle income in 2020 – Pernia

Jul 24, 2019 - 5:20 PM

After initially projecting that the Philippines would become an upper-middle income economy in 2019, Socioeconomic Planning Secretary Ernesto Pernia now says this is 'surer' in 2020

ADB again lowers Philippine economic growth forecast for 2019

Jul 18, 2019 - 6:00 PM

The Asian Development Bank projects Philippine GDP to grow by 6.2% in 2019, lower than its previous projection of 6.4%

[ANALYSIS] The poor quality of economic growth under Duterte

Jul 18, 2019 - 1:44 PM

It's been a jobless, ruthless, voiceless, rootless, and futureless growth

Cost of Mindanao Railway Phase 1 jumps by 130% to P82.9 billion

Jul 16, 2019 - 7:50 AM

Socioeconomic Planning Secretary Ernesto Pernia previously told reporters that the project would be funded by China, but there is no deal yet

Task force seizes 3 used sports cars being smuggled from Clark Freeport

Jul 11, 2019 - 7:41 PM

Task Force Aguila confiscates two other old vehicles earlier – a Ford F-150 XLT pick-up truck and a 1970 model Nissan Datsun car – allegedly brought to Angeles City and City of San Fernando from Clark Freeport Zone for restoration

SMUGGLING ATTEMPT. This is one of the two Ford Corvette Stingray sports cars seized by Task Force Aguila at Clark Freeport Zone on July 9, 2019. Photo by Jun A. Malig/Rappler

[EXPLAINER] The gospel according to Tito Sotto: Teach a man to fish, and his haul could be Chinese

Jul 03, 2019 - 4:11 PM

Senate President Tito Sotto – the man in the #Sinotto memes – comments on the 'exclusivity' of fish in the Recto Bank. Are his statements valid?

Carpio hits Duterte: Defending PH EEZ not 'thoughtless, senseless'

Jun 29, 2019 - 10:55 AM

Senior Associate Justice Antonio Carpio says the threat of war is raised 'only to intimidate the Filipino people into submitting to China's encroachment' of the West Philippine Sea

Robredo refutes Duterte: EEZ is for 'exclusive use of Filipinos'

Jun 27, 2019 - 1:56 PM

Vice President Leni Robredo says it is unconstitutional to allow China to fish within the Philippines' Exclusive Economic Zone

'EXCLUSIVE.' Vice President Leni Robredo does not agree with President Rodrigo Duterte's view that he cannot stop the Chinese from fishing within the Philippines' EEZ. File photo by Charlie Villegas/OVP

Supreme Court applicants: Duterte can allow China to fish in PH waters

Jun 26, 2019 - 6:07 PM

Two Court of Appeals justices use an argument mostly used by the Supreme Court itself in past decisions that upheld Duterte policies: presidential discretion

JBC Interviews. (L-R) Court of Appeals Associate Justices Eduardo Peralta Jr and Mario Lopez and Sandiganbayan Associate Justice Alex Quiroz are interviewed by the Judicial and Bar Council (JBC) for a vacancy on the Supreme Court. Screenshots from JBC

Robots to take 20M jobs, worsening inequality – study

Jun 26, 2019 - 1:28 PM

The study highlights growing concerns that automation and robots, while offering economic benefits, are disproportionately killing low-skill jobs and aggravating social and economic stress

Inflation, water crisis weaken consumer outlook in Q2 2019

Jun 25, 2019 - 7:25 PM

Consumers were pessimistic, but businesses were upbeat for the 2nd quarter of 2019, according to Bangko Sentral ng Pilipinas surveys

Duterte, Jokowi hail historic deal on sea boundaries

Jun 23, 2019 - 9:37 AM

The Philippines and Indonesia say the landmark agreement is a 'valuable example of peaceful and rules-based settlement of maritime borders'

President Rodrigo Roa Duterte holds a bilateral meeting with Indonesian President Joko Widodo on the sidelines of the 34th Association of Southeast Asian Nations (ASEAN) Summit at The Athenee Hotel in Bangkok, Thailand on June 22, 2019. SIMEON CELI JR./PRESIDENTIAL PHOTO

Southeast Asian leaders throw weight behind China-led trade pact

Jun 22, 2019 - 11:02 AM

(UPDATED) Trade will be the focus of a two-day ASEAN Summit, amid discussions on the South China Sea, Myanmar's treatment of Rohingya Muslims, and ocean pollution

President Rodrigo Roa Duterte greets the officials who took part in the 6th Association of Southeast Asian Nations (ASEAN)-US Summit at the Suntec Convention and Exhibition Centre in Singapore on November 15, 2018. Malacañang Photo

Philippines to fast-track costlier projects ahead of income status upgrade

Jun 19, 2019 - 10:50 AM

Once the Philippines achieves upper middle income status, the government will no longer be eligible for Japan's Special Terms for Economic Partnership funding

LOANS. The Philippines will no longer be eligible for special loan funding terms with Japan once it upgrades to upper middle income status. File photo by Jire Carreon/Rappler

Population of Earth to reach 9.7 billion in 2050 – United Nations

Jun 18, 2019 - 3:00 PM

The study paints a picture of a future in which a handful of countries see their populaces surge as life expectancy lengthens while the global growth rate slows amid declining fertility rates

Tourism's GDP share rises in 2018 despite Boracay closure

Jun 10, 2019 - 7:50 PM

The number of jobs in the tourism industry also inches up by 1.8% to 5.4 million in 2018

Photo by Boy Ryan B. Zabal

Weak El Niño caused inflation uptick in May 2019 – NEDA

Jun 05, 2019 - 2:20 PM

'The country needs to have a more robust solution to mitigate the impacts of extreme weather conditions and climate change,' says Socioeconomic Planning Secretary Ernesto Pernia

[ANALYSIS] US-China trade war: Where does the Philippines stand?

Jun 04, 2019 - 10:45 AM

If we can quickly lower the costs of doing business, beef up our competitiveness, and promote enough export-oriented manufacturers, the US-China trade war could turn into a blessing in disguise

Senate approves Philippines-Indonesia maritime boundary treaty

Jun 03, 2019 - 6:45 PM

Under the treaty, there will be a clear boundary between the two nations, helping Filipino and Indonesian fishermen to operate peacefully and properly

MARITIME BOUNDARY DEAL. The map shows the exclusive economic zone boundary between the Philippines and Indonesia. Photo courtesy of DFA

[ANALYSIS] Is the Kaliwa Dam actually viable?

Jun 01, 2019 - 11:30 AM

Make no mistake: while affected communities stand to lose most from the dam’s development, water consumers and taxpayers will also shoulder the long-term risks and burdens of the Kaliwa project

OECD cuts global growth forecast as U.S.-China tensions rise

May 21, 2019 - 10:00 PM

OECD Secretary General Angel Gurria says there is 'an urgent need' for Washington and Beijing to bury their differences

Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. - Global trade tensions and political uncertainty are weighing on the world's economy, the OECD warned on May 21, 2019, cutting its global growth forecast for this year to 3.3 percent, down from the 3.5 percent it predicted in November. (Photo by ERIC PIERMONT / AFP)